Howzat? The clamour to legalise sports betting in India
Published
5 February 2016
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By Sameer Hashmi
Mumbai Business press reporter
It is the last over of the cricket match, with India requiring 17 go to win against Australia.
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In his two-bedroom home situated in central Mumbai, a middle-aged man is viewing the video game, nervously. He's sitting on the edge of his grey colour sofa with his mobile phone glued to his right-hand man.
He has made more than 10 employ the last 30 minutes - not to talk about the match however to keep revising his bet.
Five minutes previously his cash was on Australia, however now as the Indian batsman gets ready to face the last over he's changed his mind.
"I believe India is winning, make the modification," he informs his bookie on the phone.
And a few minutes later his prediction comes real, as India wins the match in a nail-biting finish.
"I have actually made $200 today," he states with a childlike glee.
For more than three years he's been wagering on cricket matches. We can't reveal his name as what he's doing is unlawful in India.
Other than horse racing, sports betting of any kind is not permitted in India. Despite that, illegal wagering syndicates flourish in the nation.
'Black cash'
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According to the Doha-based International Centre for sports betting Security, India's unlawful sports betting wagering market is worth some $150bn a year. And much of that sports betting money is directed towards cricket.
With no legal avenue, bets using their phones by making calls to bookies. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest private run scorer.
The majority of these transactions include so-called "black money", which is money not declared to the taxman.
The 1867 Public Gambling Act bars any type of gaming in India, however unlike in the US which has a law forbiding internet gaming, there is absolutely nothing comparable here.
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And overseas wagering companies are utilizing this loophole to tempt Indians. Even though there are no online wagering operators based out of India, a lot individuals have signed up accounts with overseas firms.
"Legally you can get away [with this], as the law is uncertain for online sports betting," says Mumbai- based lawyer HP Ranina.
But despite this, it is "offline gambling", done through phone calls which dominate the market.
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Require legalisation
The clamour to legalise sports betting in cricket has actually grown after a panel appointed by India's Supreme Court proposed the idea, saying it would help secure down on corruption in the country's favourite sport.
The Justice RM Lodha Commission was established to suggest modifications in the functioning of India's cricket regulatory body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal came to light.
Two franchises have been banned for two years after some players and group authorities were discovered guilty of repairing parts of the match at the wish of bookies.
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The panel also argues that legalised wagering will bring in tax incomes for the exchequer that could total up to $2bn a year.
Even gamblers feel that legalising sports betting is a relocation in the ideal direction.
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"I don't mind paying some money out my earnings, as long as I can gamble publicly," says our cricket bettor.
It would also open a huge business chance for licensed bookies and international online wagering business to set up operations in India.
And it would assist limit match fixing in cricket and other sports betting, argue many, by assisting make transactions included in sports betting more transparent.
"If you work along with wagering companies, you will have a very reliable method of stamping out match fixing," states George Oborne, who runs a mock sports betting site, India Bet.
But many likewise think, that the taxes levied on the bettor and the bookmaker will have to be reasonable to make it attractive enough for them to gamble legally.
However, there are constraints.
"Definitely there will be unlawful sports betting because (some) individuals would not want to leave an audit path by going into the white market," states Mr Oborne.
He adds that people who use unaccounted money to place huge bets will never bet legally.
Approval concern
For sports betting to be legalised, parliamentary approval will be needed to develop a new law, and politically this will be a hard concept to offer.
"Although lots of people are involved in some sort of gambling - it's still a questionable problem for lots of," says our unnamed punter.
And considered that India has a federal structural - each state will have to also pass a different law to legalise sports betting gambling in their territory.
"The process is so long and tricky that it will take years," states Mr Ranina."That's why, we are cynical about this coming true anytime soon."
Yet with the idea having been backed by a main panel for the first time, a minimum of an argument has sparked around a subject - which previously was considered a taboo.
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For Sports Gambling to Be Legalised
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